Episode 105: Actuaries in Entrepreneurship - Part 2

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My guest for Episode 105 is Barry Swartzberg, ASA, B.Sc., CFP, FASSA, FFA, Executive Director and Co-Founder at Discovery Limited.
The theme for the episode is 𝗔𝗰𝘁𝘂𝗮𝗿𝗶𝗲𝘀 𝗶𝗻 𝗘𝗻𝘁𝗿𝗲𝗽𝗿𝗲𝗻𝗲𝘂𝗿𝘀𝗵𝗶𝗽 - 𝗣𝗮𝗿𝘁 𝟮.
Barry and I covered the following topics:⁣
✅ Barry’s motivation for becoming an entrepreneur
✅ The vision behind Discovery Limited
✅ Starting a business during the fall of Apartheid
✅ The shared-value insurance model
✅ Shaping South Africa’s insurance and financial services landscape
✅ Barry’s biggest entrepreneurial challenges
✅ What it takes to be a successful entrepreneur
✅ Transitioning from entrepreneur to intrapreneur
✅ Areas where actuaries can add value beyond insurance
✅ Tips for the next generation of entrepreneurs
Time Markers
3:50: Risk-seeking culture in South African actuarial community.
5:42: First actuarial role as product development actuary.
13:00: Motivation for becoming an entrepreneur and co-founding Discovery Limited.
18:20: Addressing unaddressed gaps in the South African insurance market (demand-focused approach).
21:14: Value creation during political turmoil (post-Apartheid era).
24:59: Discovery Limited’s shared-value insurance model (medical savings accounts, incentivized wellness programs and risk savings).
33:14: Developing a system to track diet and exercise before the era of big data.
37:39: Adapting behavioral mindset in managing health, motor, banking, and retirement risks.
47:20: How Barry contributed to Discovery’s success as an executive.
51:44: Notable challenges for Discovery Limited (entering the US market).
55:05: Getting companies to scale, risk-taking, ideation, sales, pricing, marketing, and implementing marketplace feedback.
1:01:02: Non-traditional opportunities for actuaries (managing supply and demand of electricity).
1:04:30: Tips for aspiring entrepreneurs.
If you are seeking to explore entrepreneurship, you want to watch this.
My Website: maverickactuary.com

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